Source: Business Standard
Maize, grown mainly in Karnataka, Andhra Pradesh and Maharashtra, has been marked by the government as part of its crop diversification strategy for Punjab, Haryana and western UP. The minimum support price for maize for 2013-14 has been set at ~1310 a quintal, 11.5 per cent higher than last year. And, for the first time, the MSP for maize is the same as common paddy. Sowing till the August 2 had already exceeded the total normal acreage for the entire kharif season and there are strong expectations of another record crop this year. However, heavy rains in the sowing area have raised concerns on the quality of crop. Maize had gone through price spiral in 2010-11 with low production globally, and though output is expected to be high this year in India and other countries, the raise in MSP and strong demand from domestic poultry sector can stem a significant decline.
IPM data till week ending August 17. The Indicus Price Monitor, a product of Indicus Analytics Pvt Ltd, tracks real-time wholesale prices for 60 agricultural products from more than 3,000 mandis across the country. Due to differences in methodology, the actual levels of the IPM differ from the corresponding WPI. However, broad trends are in sync with each other.